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[SG NEWS] Businessman lost SGD$10 million in 3 days at RWS. Lost lawsuit! :(

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Old 11-08-2018, 01:35 AM   #1
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[SG NEWS] Businessman lost SGD$10 million in 3 days at RWS. Lost lawsuit! :(

https://www.tnp.sg/news/singapore/bu...9m-casino-debt

A Malaysian businessman who blew $10 million in credit within three days at the Resorts World Sentosa (RWS) casino and settled nearly half the debt has failed in his court bid to void the outstanding $5.9 million.

The High Court rejected Mr Lee Fook Kheun's claim that he was intoxicated when he inked the credit deals, which he also argued were invalid as RWS had failed to comply with the Casino Control Regulations. He had sought to have monies paid returned to him.

"Mr Lee has not proved on the balance of probabilities that he was so intoxicated that he failed to understand the nature and effect of the Credit Agreements," said Justice Valerie Thean in judgment grounds last week.

"Even if this were not so, he has not rescinded the agreements; indeed his delay and conduct have affirmed them," she added.

The judge was also not convinced by his claims, following the 13-day hearing spread over several months earlier this year, noting RWS had complied with statutory requirements in conducting the necessary background creditworthiness checks on Mr Lee.

EMBARRASS
The court, among other things, heard he signed a settlement deal in January 2015 with RWS because a lawsuit would embarrass the 67-year-old, who was a director and shareholder of various construction companies.

He first visited RWS in July 2010 with the prospect of opening a seafood restaurant, and later became a casino premium member who rolled at its high-limit gaming area.

He was issued $5 million worth of gambling chips when he visited the casino on Aug 20, 2010 and obtained a further $5 million in gambling chips on Aug 22. The total sum was fully drawn down and RWS pursued the debt several months later when he failed to repay despite being notified.

In January 2015, he signed a settlement agreement acknowledging the $10 million debt and continued with payments until August.

He had paid $4,067,287 between Aug 23, 2010 and Aug 21, 2015, and with "Genting points" of $2,118 deducted, he still owed $5,930,595.

His lawyers Michael Palmer and Reuben Tan argued that being intoxicated at the time, he did not understand the nature of what he had signed. They added that the deal was void as Mr Lee did not seek the credit recommended by the casino staff.

RWS' lawyers, Senior Counsel N. Sreenivasan and A. Shankar, said Mr Lee lacked credibility in his claims based on inconsistencies in his evidence.
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Old 11-08-2018, 01:39 AM   #2
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His lawyers Michael Palmer hmmm
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Old 11-08-2018, 01:40 AM   #3
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Mango pumper?

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Old 11-08-2018, 01:41 AM   #4
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His lawyers Michael Palmer hmmm
Mango lover is lawyer?!!

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Old 11-08-2018, 01:49 AM   #5
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Lmao genting points..best joke.
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Old 11-08-2018, 01:53 AM   #6
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so u lose 5 million and u only get $2118 genting points?
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Old 11-08-2018, 01:54 AM   #7
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His lawyers Michael Palmer hmmm
michael pumper ?
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Old 11-08-2018, 01:59 AM   #8
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im afraid when i become a billionaire one day i would lose all my money to MBS,MBS is like the call of the siren luring unsuspecting sailors to their watery deaths.

i mean to lose 10 million in just 3 days......what hope does anyone possibly stand against a casino?

looks like the only way to gamble in a casino is if u own the casino itself.
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Old 11-08-2018, 02:01 AM   #9
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im afraid when i become a billionaire one day i would lose all my money to MBS,MBS is like the call of the siren luring unsuspecting sailors to their watery deaths.

i mean to lose 10 million in just 3 days......what hope does anyone possibly stand against a casino?

looks like the only way to gamble in a casino is if u own the casino itself.
But he could have made $10 million in 3 days...

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Old 11-08-2018, 02:56 AM   #10
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http://www.quahewoo.com/our_lawyers/detail/reuben-tan

http://www.quahewoo.com/our_lawyers/...michael-palmer
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Old 11-08-2018, 03:02 AM   #11
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Mango lover is lawyer?!!

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Old 11-08-2018, 03:05 AM   #12
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How many construction workers is he going to exploit to make that back.
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Old 11-08-2018, 03:07 AM   #13
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Surprise surprise...! Easter egg in this news article
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Old 11-08-2018, 03:19 AM   #14
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Want to void remaining debt, I can still understand....but to try and recover the money he already paid as well? Sibei greedy. If he can't accept the risks, he shouldn't gamble in the first place, much less apply as a high roller.
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Old 11-08-2018, 03:22 AM   #15
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Bo discount meh?

Alr lose so much, genting still want to carrot him further?
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